Is your business set up for future success? Get invested in a savings account from Levo Credit Union, and you’ll be floored by the number of interest-earning options you have at your disposal.
|REQUIREMENTS||THE AVERAGE BANK||LEVO|
|MINIMUM OPENING DEPOSIT||$50||$5|
|MINIMUM DAILY BALANCE||$300 (charged $5/month if not met)||$5 (no fee charged)|
There’s nothing like earning a little extra dough for doing next to nothing! Your Levo business savings account can also earn dividends—it’s one of the many benefits of your business being a credit union member.
|Savings||Minimum Balance||Dividend Rate||APY*||Term|
|SUPER SHARE MONEY MARKET - TIER 1||$1,000 up to $2,500||0.05%||0.05%||N/A|
|SUPER SHARE MONEY MARKET - TIER 2||$2,500.01 - $10,000||0.05%||0.05%||N/A|
|SUPER SHARE MONEY MARKET - TIER 3||$10,000.01 - $25,000||0.05%||0.05%||N/A|
|SUPER SHARE MONEY MARKET - TIER 4||$25,000.01 - $50,000||0.10%||0.10%||N/A|
|SUPER SHARE MONEY MARKET - TIER 5||$50,000.01 - $100,000||0.15%||0.15%||N/A|
|SUPER SHARE MONEY MARKET - TIER 6||Over $100,000||0.20%||0.20%||N/A|
Regular Share Certificates
|Certificate Term||Minimum Deposit||Dividend Rate||APY*||Term|
|3 MONTH SHARE CERTIFICATE||$2,500||0.10%||0.10%||3|
|6 MONTH SHARE CERTIFICATE||$2,500||0.15%||0.15%||6|
|1 YEAR SHARE CERTIFICATE||$500||0.20%||0.20%||12|
|18 MONTH SHARE CERTIFICATE||$500||0.25%||0.25%||18|
|2 YEAR SHARE CERTIFICATE||$500||0.30%||0.30%||24|
|3 YEAR SHARE CERTIFICATE||$500||0.40%||0.40%||36|
|4 YEAR SHARE CERTIFICATE||$500||0.60%||0.60%||48|
|5 YEAR SHARE CERTIFICATE||$500||0.80%||0.80%||60|
When we say “shares,” we mean your business’s very own piece of ownership of the credit union. When you open a business savings account, you are a Levo member. And when you’re a “shareholder,” you’re free and clear to apply for our many other valuable products and services. This is our most basic business savings account.
|MINIMUM OPENING DEPOSIT||$5|
Saving up for something specific can be difficult when everything’s talked about in numbers, balances and deposits. That’s where Special Shares come in. Pick out what you’re saving for—equipment upgrades, systems or software—and we’ll help you meet your saving goals through automatic transfers and generous dividends.
|MINIMUM OPENING DEPOSIT||$5|
|MINIMUM OPENING DEPOSIT||$1,000|
|MONTHLY WITHDRAWALS ALLOWED||Three|
Invest a little, get a lot. If you’re after one of the highest possible interest-earning rates Levo has, you can invest your funds into a share certificate with a fixed-rate return over a designated period of time. You choose your term, and cash in when the clock runs out (or re-invest to maximize your dividends). Stop by a branch to open your certificate.
|MINIMUM OPENING DEPOSIT|| $500 (12-60 months)
$2,500 (3-6 months)
|EARLY WITHDRAWAL PENALTY||Interest Earned (your initial deposit is yours)|
Fees could reduce earnings on the account. The account requires a minimum opening deposit based on term and APY and is listed above. Early withdrawal(s) may be subject to either the Regulation D Penalty or the Early Withdrawal Fee. Some exceptions may apply.
The Regulation D Penalty is 7 days' simple interest and applies to:
- Withdrawals made within 7 days of account opening including the opening day.
- Withdrawals made during the grace period, when additional deposits are made during the grace period and the withdrawal exceeds the amount of the matured Share Certificate balance.
Withdrawals made after the first 7 days of account opening are subject to the Early Withdrawal Fee below:
- For terms less than three months (or less than 90 days), the fee is one month's interest.
- For terms three months (or 90 days) through 12 months (or 365 days), the fee is three months' interest.
- For terms over 12 months through 24 months, the fee is six months' interest.
- For terms over 24 months, the fee is 12 months' interest.
Share Savings Rates Effective: 12/16/20
Visa® Credit Cards are issued by Levo Credit Union, Member NCUA. Pursuant to a license by Visa U.S.A. Inc.